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Belt and Road initiative gives world economy fresh impetus: Hong Kong financial chief

Xinhua, July 24, 2015 Adjust font size:

The Belt and Road initiative can provide the world economy with a fresh and much-needed impetus to the otherwise mundane global growth outlook, Hong Kong's Financial Secretary Tsang Chun-wah said at a forum here on Friday.

"I think it is apparent that the global market regards this vision as the driving force for the world economy in the coming years," Tsang said, citing the overwhelming participation by nations in the establishment of the Asian Infrastructure Investment Bank, which is the key financial institution supporting the initiative's development.

Speaking at the "One Belt One Road" International Forum, Tsang said it's the right moment and right place to discuss and explore the impact of the initiative on the global economy.

"This is the right moment because the global economy has long been yearning for a vision that is powerful enough to create the necessary momentum to bring us out of the global financial gloom that began in 2008," he said.

Hong Kong, in his view, is the right place as it can help implement and help deliver in full the enormous possibilities and opportunities presented by the Belt and Road initiative.

"We have all it takes, from the perspectives of history, geography, financial and human resources, market infrastructure and network, as well as business and professional know-hows, to contribute to the successful and sustainable development of this valuable package," he said.

Hong Kong is blessed with the unique advantages offered by the "one Country, two Systems" principle. Coupled with its strength in trade and logistics, financial services and professional services, Hong Kong can make unique contributions in the implementation of the Belt and Road initiative, according to Tsang.

The forum, co-hosted by the Hong Kong WTO Research Institute and the Guanghua Law School, Zhejiang University, was attended by scholars from India, South Korea, the United States as well as a number of other countries. Endi